Q&A: Is it normal for investment fees to be high in the first five years?

Q: I recently looked at my retirement annuity and admit that I am relatively clueless on the matter.

It is encouraging to see that you are taking proactive steps in ensuring your financial independence. Administration fees: The administration fees for flexible investment products are typically 0.35%-0.50% a year . From the information provided, the EAC is expensive, which could be the combination of the high administration fees and high “other” fees. Advice fees and/or commission is sometimes included under “other” fees and included in the footnotes.Based on a 1.5% initial advice fee and 0.6% annual advice fee, the effective annual cost will be 5.4% in year one, reducing to 2.8% in year five and 2.44% thereafter.

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